The Earned Income Tax Credit (EITC) is made available to individuals and families who earn a low annual income.
This is a relief for those in a lower income bracket. Often it comes as an unexpected relief when those with low income discover it. This is because many aren’t even aware the credit exists.
Like other tax credits it’s not always easy or clear to determine whether or not you qualify until you do a little research.
The good news is that there are some tools to help you identify your potential earned income credit amounts.
Be sure to follow the link above to read more about the Earned Income Tax Credit. The link will showcase the available Earned Income Credit Table. This table will show, based on your income and family situation, the income thresholds that allow you to qualify for the credit. Finally, the article offers a link to an earned income credit calculator.
Certainly, every tax break in your favor adds up, and is worth looking into. No need to pay out more than is necessary.
Posted by: Nick Venturella